Business
Emirates group reports profits in 2019-20
Karachi, May 11, 2020: The Emirates Group today announced its 32nd consecutive year of profit, against a drop in revenue mainly attributed to reduced operations during the planned DXB runway closure in the first quarter, and the impact of flight and travel restrictions due to the COVID-19 pandemic in the fourth quarter. Released today in…
State Bank enhances scope and financing limits under its Rozgar Scheme
Karachi, May 11, 2020: Since its launch of Refinance Scheme to Support Employment and Prevent Layoff of Workers, called Rozgar Scheme in common parlance, State Bank has been constantly receiving feedback from various stakeholders, making the scheme more facilitative for businesses and creating incentives to prevent layoff of employees under current COVID Pandemic scenario. Many…
PHMA lauds PM to open lockdown to rescue businesses
Textile Allied & General Industries must be opened in next immediate phase; Resuming of Industrial & Commercial activities will save millions of citizens from unemployment: Ch Salamat Ali Karachi, May 08, 2020: Pakistan Hosiery Manufacturers & Exporters Association (PHMA) Central Chairman appreciated the Prime Minister of Pakistan Imran Khan for opening the lockdown in phases…
SBP allows financing for BMR and expansion under its TERF
Karachi, May 08, 2020: The State Bank of Pakistan (SBP) has opened up it subsidized Temporary Economic Relief Facility (TERF) for Balancing, Modernization and Replacement (BMR) and expansion of existing projects. This measure has been taken to provide further stimulus to the economy in the context of COVID-19’s impact on the economy, to support investment…
PSX closed on a decline of 37pts
Karachi, May 08, 2020: KSE100 traded in a narrow range between +197 points and -145 points, closing the session -36 points. The session low volumes as well compared with recent past sessions. Selling pressure was evident in Banks, E&P and Cement sectors. International oil prices had little impact on investor sentiment, which is affected more…